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Relating to the authority of a development corporation created by
the Gulf Coast Authority to finance certain improvements.
No fiscal implication to the State is anticipated.
SB 2072 would authorize a development corporation created by the Gulf Coast Authority to finance qualified improvements located inside or outside of Texas in the same manner and to the same extent as a county. The development corporation is not required to obtain approval from any entity other than GCA.
In other words, this bill would authorize the GCA to use Property Assessed Clean Energy (PACE) financing. PACE is a financial tool that incentivizes property owners to upgrade facility infrastructure with little or no capital outlay. These programs enable owners to lower their operating costs and use the savings to pay for eligible water conservation, energy efficiency, resiliency, and distributed generation projects. Owners gain access to private, affordable, longterm financing in the form of a land-secured assessment that is paid off over time.
Texas Action remains neutral SB 2072 as it does not appear to affect our liberty principles.